ISLAMABAD – Prime Minister Shahid Khaqan Abbasi chaired a meeting of theEconomic Coordination Committee (ECC) of the Cabinet at Prime Minister’sOffice on Thursday.
The ECC approved the Ramzan Relief Package – 2018 for 19 daily use itemsprovided by the Utility Stores Corporation.
These items include flour, sugar, cooking oil & ghee, grams, basen, dates,rice, squashes, milk and tea. The government will provide a subsidy of Rs1,733 million under the Ramzan Relief Package-2018.
The prime minister directed that under the Ramzan package daily use itemsshould be provided at lower rates than the market. The ECC accordedapproval of the extension in Financial closing date of 660 KV HVDCMatiari-Lahore Transmission Line by 7 Months i.e., upto 1st December, 2018without doubling the amount of Performance Guarantee.
The decision has been taken to align the project with the completion ofupcoming coal fired power projects being developed at Thar and near Karachias well as 1100 MW K-2 project at Karachi. The ECC approved a proposal ofthe Power Division for raising of Rs. 100 billion through commercial banksas a fresh financing facility to be arranged through Power Holding PrivateLtd. (PHPL).
The loan amount will be utilized for funding the liabilities of the powerdistribution companies towards Central Power Purchasing Agency (CPPA) andthe sectoral entities.
Approval was accorded by the ECC for revision of Cess Rates of Tobacco forthe Year 2017-18. The ECC also allowed PASSCO to export 0.5 million tons ofsurplus wheat at a rebate of US$ 155 per ton through sea route.